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Australian (ASX) Banks Industry Analysis
UpdatedDec 15, 2025
DataAggregated Company Financials
Companies13
- 7D1.7%
- 3M-2.9%
- 1Y8.7%
- YTD10.5%
In the last week, the Banks industry is up 1.7%, with National Australia Bank up 3.1%. This takes the industry's 12 month performance to a gain of 8.7%. As for the next few years, earnings are expected to grow by 5.2% per annum.
Industry Valuation and Performance
Has the Australian Banks Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 15 Dec 2025 | AU$647.2b | AU$96.7b | AU$30.3b | 19.1x | 21.4x | 6.7x |
| Wed, 12 Nov 2025 | AU$671.7b | AU$96.8b | AU$30.3b | 19.3x | 22.2x | 6.9x |
| Fri, 10 Oct 2025 | AU$669.6b | AU$95.6b | AU$31.7b | 15.5x | 21.1x | 7x |
| Sun, 07 Sep 2025 | AU$661.1b | AU$95.6b | AU$31.7b | 14.8x | 20.8x | 6.9x |
| Tue, 05 Aug 2025 | AU$631.8b | AU$94.6b | AU$31.8b | 14.4x | 19.9x | 6.7x |
| Thu, 03 Jul 2025 | AU$650.6b | AU$94.6b | AU$31.8b | 15.1x | 20.5x | 6.9x |
| Sat, 31 May 2025 | AU$625.8b | AU$94.6b | AU$31.8b | 14.1x | 19.7x | 6.6x |
| Mon, 28 Apr 2025 | AU$595.3b | AU$93.2b | AU$31.7b | 13.1x | 18.8x | 6.4x |
| Wed, 26 Mar 2025 | AU$559.5b | AU$93.3b | AU$31.7b | 12.5x | 17.6x | 6x |
| Fri, 21 Feb 2025 | AU$579.0b | AU$93.2b | AU$31.7b | 13.3x | 18.3x | 6.2x |
| Sun, 19 Jan 2025 | AU$589.3b | AU$92.5b | AU$31.4b | 13.7x | 18.7x | 6.4x |
| Tue, 17 Dec 2024 | AU$596.8b | AU$92.5b | AU$31.4b | 13.5x | 19x | 6.5x |
| Thu, 14 Nov 2024 | AU$588.0b | AU$92.5b | AU$31.4b | 13.1x | 18.7x | 6.4x |
| Sat, 12 Oct 2024 | AU$553.9b | AU$91.8b | AU$31.6b | 12.1x | 17.6x | 6x |
| Mon, 09 Sep 2024 | AU$582.2b | AU$91.9b | AU$31.6b | 12.5x | 18.4x | 6.3x |
| Wed, 07 Aug 2024 | AU$515.0b | AU$91.7b | AU$31.6b | 11.1x | 16.3x | 5.6x |
| Fri, 05 Jul 2024 | AU$520.2b | AU$91.7b | AU$31.6b | 10.7x | 16.4x | 5.7x |
| Sun, 02 Jun 2024 | AU$495.0b | AU$91.7b | AU$31.8b | 10.5x | 15.6x | 5.4x |
| Tue, 30 Apr 2024 | AU$482.8b | AU$81.6b | AU$28.7b | 10.9x | 16.8x | 5.9x |
| Thu, 28 Mar 2024 | AU$501.0b | AU$92.5b | AU$32.7b | 11x | 15.3x | 5.4x |
| Sat, 24 Feb 2024 | AU$487.3b | AU$92.5b | AU$32.7b | 10x | 14.9x | 5.3x |
| Mon, 22 Jan 2024 | AU$460.4b | AU$92.8b | AU$33.2b | 8.1x | 13.9x | 5x |
| Wed, 20 Dec 2023 | AU$449.5b | AU$92.8b | AU$33.2b | 8x | 13.5x | 4.8x |
| Fri, 17 Nov 2023 | AU$420.8b | AU$92.8b | AU$33.2b | 8x | 12.7x | 4.5x |
| Sun, 15 Oct 2023 | AU$425.9b | AU$91.0b | AU$32.5b | 8x | 13.1x | 4.7x |
| Tue, 12 Sep 2023 | AU$426.6b | AU$91.0b | AU$32.6b | 8.2x | 13.1x | 4.7x |
| Thu, 10 Aug 2023 | AU$433.0b | AU$90.8b | AU$32.5b | 8.4x | 13.3x | 4.8x |
| Sat, 08 Jul 2023 | AU$401.5b | AU$91.0b | AU$32.4b | 8.3x | 12.4x | 4.4x |
| Mon, 05 Jun 2023 | AU$396.6b | AU$91.0b | AU$32.4b | 8.2x | 12.2x | 4.4x |
| Wed, 03 May 2023 | AU$426.5b | AU$89.2b | AU$31.3b | 8.2x | 13.6x | 4.8x |
| Fri, 31 Mar 2023 | AU$409.6b | AU$89.2b | AU$31.5b | 9.7x | 13x | 4.6x |
| Sun, 26 Feb 2023 | AU$432.3b | AU$88.9b | AU$31.4b | 10.9x | 13.8x | 4.9x |
| Tue, 24 Jan 2023 | AU$455.0b | AU$87.6b | AU$30.9b | 10.6x | 14.7x | 5.2x |
| Thu, 22 Dec 2022 | AU$439.7b | AU$87.6b | AU$30.9b | 10.3x | 14.2x | 5x |
Price to Earnings Ratio
14.2x
Current Industry PE
- Investors are optimistic on the Australian Banks industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 21.4x which is higher than its 3-year average PE of 16.5x.
- The 3-year average PS ratio of 5.7x is lower than the industry's current PS ratio of 6.7x.
Past Earnings Growth
- The earnings for companies in the Banks industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 3.4% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the Australian Financials industry?
| AU Market | 0.56% | |
| Financials | 1.63% | |
| Banks | 1.71% | |
| Diversified Banks | 1.72% | |
| Regional Banks | 1.10% | |
Industry PE
- Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 23.3x.
- Analysts are expecting annual earnings growth of 24.6%, which is higher than its past year's earnings decline of 20.5% per year.
- Investors are most pessimistic about the Diversified Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 16.5x.
Forecasted Growth
- Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 25% over the next 5 years.
- This is better than its past earnings decline of 21% per year.
- In contrast, the Diversified Banks industry is expected to see its earnings grow by 4.8% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| NAB National Australia Bank | AU$42.20 | 3.9% +AU$4.9b | 12.1% | PB2x | |
| ANZ ANZ Group Holdings | AU$36.24 | 3.3% +AU$3.5b | 24.2% | PB1.5x | |
| WBC Westpac Banking | AU$38.89 | 1.7% +AU$2.2b | 20.0% | PB1.8x | |
| BFL BSP Financial Group | AU$8.08 | 1.4% +AU$51.4m | 24.3% | PB2.2x | |
| BOQ Bank of Queensland | AU$6.48 | 0.8% +AU$32.9m | -3.6% | PB0.7x |
